SOMETIMES Santa misses the mark, but there’s no need to let your unwanted gifts go to waste as you could make a small fortune.
Eileen de Sousa, a financial trader, has made hundreds of pounds by reselling gifts that she simply didn’t want, or have a need for.
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The 25-year-old, who lives in London, has been a regular on platforms like Vinted, eBay and Facebook Marketplace for around six years.
She sells everything from old tech, clothing, homeware and cosmetics – some of which she has been gifted.
But Eileen said she doesn’t feel any guilt as the presents would have been wasted if she’d kept hold of them.
She told The Sun: “I started selling things second-hand in 2017 while I was living at home in Ireland.
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“I sell gifts in the same way I would see any of my other possessions and I don’t see it as any different.
“It’s pretty common to be gifted things that you haven’t asked for and you don’t want.
“Instead of letting it go to waste, it’s best to sell it on to someone who will get good use out of it.”
Eileen puts the extra cash she makes from selling her second-hand clothes into a separate bank account.
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This account also holds cash she earns from her side-hustles tutoring English and financial education.
Once the account has hit £200, she then invests this into a Stocks and Shares Isa which she has set up as a nest-egg.
Her second-hand selling, along with her other ventures, helps her to make up to £3,000 a year.
But it’s important to remember that anyone earning extra cash through doing things like selling clothes will need to work out if they need to pay extra tax.
If you earn more than £1,000 extra a year, you’ll need to pay tax on your earnings.
You need to register for a self-assessment at HMRC to ensure you are paying the correct amount of tax.
f you fail to file a tax return you could end up with a surprise bill from HMRC later on asking you to pay the tax you owe – plus extra fees on top.
We’ve put together a guide on side-hustle tax rules to help you to understand the ins and outs.
My friends and family will undertstand
After the dust settles on Christmas Day, Eileen organises her presents based on those she wants to keep and those she doesn’t.
She sells them alongside other items she no longer wants and makes anything between £20 and £100 a month.
“I think it’s a balance between being sentimental and knowing when to let things go”, she said.
“I try not to think about who gave me the gift, and I think most of my friends and family would be understanding about it.”
“You have to think practically about what you’re actually going to use, and what you’re not.”
As a regular seller, Eileen doesn’t rush to put her unwanted gifts up for sale as soon as she gets them though.
She says this gives her a little longer to think about whether she wants to keep them or not.
Eileen said: “I recently sold some pair of pearl earrings that I got in Secret Santa last year on Depop.
“I think they would cost around £6 at retail, and I sold them for £10.
“This year I was given a pair of flamingo socks which I will also sell.
“They will probably fetch a few pounds but it all adds up.”
The savvy seller also flogged a pair of curtains bought for her by her partner at the time.
She said: “He bought me the most beautiful set of curtains for around £50.
“They were huge and super good quality and they served a purpose for a while.
“But when I moved, I didn’t need them anymore so I sold them on Facebook Marketplace for £80 – a £30 profit.”
Eileen said she also has a bottle of perfume and a gift set that she’s kept in the packaging with a view to selling it.
She said: “I have a bottle of Paris Hilton’s Tease perfume that I’m planning on selling on Vinted.
“I also have a Gucci mini perfume set that my dad gave me that I’m going to put up for sale.”
When The Sun checked, we saw a bottle of Paris Hilton’s Tease currently for sale on Vinted for £40.
The perfume has been discontinued, meaning that sellers can ask for top prices as fans are prepared to fork out more for their favourite scent.
Meanwhile, a set of mini Gucci perfumes is listed for £69.
This doesn’t mean that the seller will get this much money for the items, but it’s how much they had judged them to be worth.
Clothing is also something that Eileen looks to sell if they aren’t her style.
“I’ve sold clothes I was given for Christmas when I was little that I’ve kept hold of,” she said.
“A little girl’s formal dress I was given years ago sold for £35 on Vinted.
“My auntie’s often give me clothes from various high street shops, and most of them just aren’t my style. They can sell for anything from £2 to £20.”
Choose your platform
Eileen’s biggest piece of advice for any budding second-hand sellers is to pick the right platform.
There’s no shortage of places to sell, from eBay to Depop and Vinted.
Plus Facebook Marketplace is also useful for meeting bargain-hungry buyers in your area.
Eileen said: “I prefer Vinted over Depop beause they are no fees for the seller.
“Vinted is great for clothing and cosmetic and beauty products, but they have to be unused and in their packaging.
“While I find eBay to be better for tech and gadgets and Facebook Marketplace is great for homeware.”
Be clear
Clear descriptions will also really help you to sell your items, Eileen said.
She added: “Make sure your description is as accurate and as detailed as possible.
“Include the brand, style and colour as well as giving exact measurements if you can.
“But it’s important to be truthful because you don’t want disappointed buyers to leave you angry reviews.”
Make sure the price is right
You also need to set a price that is low enough to generate interest, but still brings you as much profit as possible.
Eileen said: “Your pricing has to be realistic and not wishful.
“You should also consider that people will want to bargain on the price, so be sure to bear this in mind when setting your price.”
Research the market for similar items to give you an idea of what yours might go for.
Set time aside
Selling your old clothes can be time consuming, so make sure that you set enough time aside to do a good job.
Eileen said: “I sort of approach it in the same way as doing the house chores.
“It can be a bit tedious, but it’s a job that needs to be done.
“You can make it fun by inviting friends to help, or even ask them to bring over their old items and you can take pictures and list your ites together.”
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Meanwhile, we spoke to a savvy saver who’s made £2,200 using cashback sites to help pay for her Christmas shopping.
Plus, we tried alcohol-free fizz for New Year and a budget bottle beats Freixenet on taste and price.
You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.
